Funding secure, Foamex ready to exit Ch.11
October 18, 2006,
Linwood, Pa. – Foam supplier Foamex International said it has secured an equity investment commitment that will help it emerge from Chapter 11 bankruptcy protection.
Foamex also said its primary operating subsidiary, Foam-ex L.P., has received a commitment for up to $790 million in financing from a group of lenders led by Bank of America and the bank's securities arm. The company said it expects to draw about $645 million as it emerges from Chapter 11.
(This report was supplied by HTT sister publication Furniture Today.)